NIIT Technologies and Microsoft collaborate to empower Small and Medium Banks

NIIT Technologies Limited, a leading global IT solutions provider, today announced the deployment of BankingEasy its Core Banking Solution on Microsoft’s Azure platform. The collaboration will empower small and medium banks across India to operate with more flexibility and become RBI compliant.

With the availability of cloud services through datacentres locally in India, banks will be able to leverage Microsoft’s Azure, Office 365, CRM Online and Disaster Recovery Services based on their needs. Additionally, the solution will substantially improve service experience with any branch banking, with more computing power and secured value added services. 16 banks across Delhi, UP, Rajasthan, MP, Uttarakhand, Chhattisgarh, West Bengal and Maharashtra in India are already using BankingEasy solution deployed on Microsoft Azure.

Arvind Mehrotra, President and global head, Infrastructure Management services NIIT Technologies stated, “BankingEasy on Azure has enabled these banks to adapt with the changing market dynamics. Despite of the surge in transactions and data during the current demonetization phase, BankingEasy on Azure has enabled the banks to deliver consistent customer experience.”

“Microsoft is the first hyper-scale and only global cloud provider to offer a complete portfolio of cloud services from local datacenters in India. Our Trusted cloud principles address customers concerns of security, privacy & control, transparency, and compliance. Mid and Small banks are playing a crucial role in getting the unbanked population come under the Indian Banking ecosystem. We are committed to empower them with modern tools and solutions that offer mobility while ensuring security”, said Harish Vaidyanathan, Director – ISV Business, Microsoft India.

Today, there are many challenges plaguing the cooperative banks including lack of standardized business model and risk management systems among others. With BankingEasy on Azure small and medium banks will be able address these issues and perform much better than earlier.